ESTATE AGENT SAYS HIGH-END HOMES IMMUNE FROM SLUMP

2014/12/4

From：Macau Business

Demand for upmarket housing has been climbing for the past two years and the gaming slump is unlikely to curb that demand, an estate agent argues.

According to Centaline (Macau) Property Agency Ltd senior regional sales director Roy Ho, the average price per square foot of upmarket residential space has risen by 30 percent to MOP14,132 (US$1,770) in the past two years.

Centaline Macau director Jacky Shek Po Tak said: “The rich people owning luxury residences probably don’t care about the dropping gaming revenues. Most of them have generous incomes so they don’t have to sell their properties in hand. In addition, they do not mind spending more to purchase when they think it’s worth it.”

Copyright@Macau Business